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Moderate merchandise trade growth in most major economies in first quarter of 2012 but sharp slowdown in China

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31/05/2012 - Merchandise trade grew moderately in most major economies in the first quarter of 2012. Total imports and exports of G7 and BRICS grew by 1.0% and 0.6% respectively.  In contrast, trade slowed sharply in China, with exports contracting (by 4.2%) for the second consecutive quarter and imports contracting (by 3.8%) for the first time since the first quarter of 2009.

Imports and exports grew in Germany (by 0.9% and 1.8% respectively), Japan (by 1.5% and 2.1%), the United Kingdom (by 2.7% and 1.6%), the United States (by 4.0% and 2.0%), India (by 5.7% and 5.9%) and South Africa (by 6.3% and 4.8%).

Import growth was flat in France and contracted (by 3.2%) in Italy but exports rose in both countries (by 0.7% and 1.3% respectively).  Imports grew (2.4%) in Canada but exports decreased (-0.3%) for the second consecutive quarter.  Exports also declined in Russia (by 0.7%).